USDCHF traded a choppy 0.9574/0.9665 range
|USDCHF: 0.9589
US$Chf traded a choppy 0.9574/0.9665 range on Thursday, and with the momentum indicators mixed a cautious stance is required.
1 hour/4 hour indicators: Neutral – Turning higher?
Daily Indicators: Turning lower
Weekly Indicators: Neutral
Preferred Strategy: The daily charts still look heavy but the 4 hour momentum indicators may be building a basing formation and we now have a minor triple bottom at 0.9572/75. If this holds we could then see a retest of the 0.9650/65 area, above which could see a return towards 0.9700/20. If 0.9570 gives way, look for a dip towards 0.9550, which should be strong, but below which would open the way to 0.9500.
Resistance | Support | ||
0.9680 | 23.6% of 1.0004 /0.9572 | 0.9572 | 17 Jan low |
0.9665 | Session high | 0.9550 | 100 MMA /Rising trend support |
0.9650 | 17 Jan high | 0.9515 | Minor |
0.9625 | Minor | 0.9500 | Minor |
0.9600 | Minor | 0.9485 | Minor |
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